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The Fed: Fed may have to hike interest rates faster than it now forecasts, Rosengren says

Bloomberg News/Landov

Federal Reserve Bank of Boston President Eric Rosengren

The Federal Reserve may have to be aggressive in raising interest rate than it now expects, said Boston Fed President Eric Rosengren on Friday.

The Fed’s latest economic forecast sees interest rates a little above 1% by the end of next year and just under 2% in 2018.

“My own view is that if the unemployment rate falls as much as I’m expecting than it is possible that we’ll have to raise rates faster than the summary of economic projections,” Rosengren said in an interview with CNBC.

Rosengren said he things the unemployment rate will drop to 4.5% by next year.

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